Body And Mind Q3 FY23 Revenue Declines 7% YoY, What About Adjusted EBITDA?
Portfolio Pulse from Vuk Zdinjak
Body and Mind Inc. reported Q3 FY23 revenue of $7.3 million, a 7% YoY decrease, and adjusted EBITDA loss of $730,000, a 6% improvement compared to Q3 FY 2022. The company is focusing on cost reductions and expanding into new markets, including Illinois and New Jersey.
June 21, 2023 | 2:17 pm
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NEGATIVE IMPACT
Body and Mind's Q3 FY23 revenue declined 7% YoY, but adjusted EBITDA loss improved by 6%. The company is focusing on cost reductions and expanding into new markets.
Body and Mind's revenue decline of 7% YoY and a decrease in gross profit indicate a negative short-term impact on the stock price. However, the improvement in adjusted EBITDA loss and the company's focus on cost reductions and market expansion may provide some support to the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100